Ameriprise Financial Inc. Has $49.78 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

Ameriprise Financial Inc. grew its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 104.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,793,701 shares of the company's stock after acquiring an additional 914,820 shares during the quarter. Ameriprise Financial Inc. owned 0.38% of Conagra Brands worth $49,776,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands during the 4th quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in shares of Conagra Brands during the fourth quarter worth $29,000. Grove Bank & Trust lifted its position in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Conagra Brands in the 4th quarter worth $41,000. Finally, Stonebridge Financial Group LLC bought a new position in Conagra Brands during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Performance

NYSE:CAG traded down $0.34 on Wednesday, hitting $22.49. The company's stock had a trading volume of 6,484,010 shares, compared to its average volume of 5,277,225. Conagra Brands, Inc. has a one year low of $22.39 and a one year high of $33.24. The firm has a market capitalization of $10.74 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The stock has a fifty day moving average of $25.33 and a two-hundred day moving average of $26.27. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the company posted $0.69 EPS. The firm's revenue was down 6.3% on a year-over-year basis. Research analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 6.22%. Conagra Brands's dividend payout ratio is currently 205.88%.

Analysts Set New Price Targets

CAG has been the topic of a number of research reports. Barclays cut their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday. Morgan Stanley initiated coverage on Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Finally, Wells Fargo & Company decreased their price objective on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of "Hold" and an average target price of $27.50.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.